Research & Development Tax Credits

We have had great success helping a wide variety of businesses claim R&D tax relief

Research & Development Tax Credits

The R&D tax credit scheme is a Government incentive designed to encourage innovation and increased spending on R&D activities by companies operating in the UK. Companies that are carrying out R&D activities may claim an enhanced tax deduction for the qualifying expenditure they incur. SME companies receive the most benefit of R&D tax relief, but recent changes to the rules has significantly increased the scope and value for large companies as well.

According to HM Revenue & Customs (“HMRC”), since being first introduced in 2000, over £7 billion of R&D tax relief has been claimed by SME and large companies. However, many companies are often unaware that what they are doing qualifies as R&D and have missed claims for the enhanced tax relief.

If your company carries out research and development then you may be eligible for R&D tax credits, which can significantly reduce your tax bill. Companies with no corporation tax liability may swap losses with HMRC for a cash tax credit! The scheme has never provided as substantial tax savings as it does today, with up to 33.35% of a company’s R&D spend being available as a cash repayment from HMRC.

To claim R&D tax relief, you don’t need to be scientists in laboratories. A company that spends time and money trying to improve products, services, processes or systems through a technological or scientific advance that would not be easily deductible by a competent professional in their field, is likely to be eligible.

Our specialist team have had great success helping a wide range of companies identify and make claims for R&D tax relief. Our team are able to identify qualifying R&D activities and ensure all qualifying costs are captured to maximise a claim. We prepare a detailed R&D report to support the claim for tax relief, which is in a format we have agreed with HMRC. Our expert knowledge and experience of R&D claims has resulted in our team securing significant cash repayments and tax savings for our clients, with a 100% success rate to date.

Registered to carry on audit work in the United Kingdom and Ireland and regulated for a range of investment business
activities by the Institute of Chartered Accountants in England and Wales. Details about our audit registration can be viewed
at www.auditregister.org.uk for the UK and www.cro.ie auditors for Ireland, under reference number C001020742.